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WOSCF - Ferguson plans to buy back up to £450M shares
Ferguson Plc.
Ferguson (NYSE:FERG) said it signed an arrangement with its broker Barclays Capital Securities and Barclays Capital to buy back up to £450M of its shares, beginning April 13 and ending no later than June 23. The company said the buyback is in continuation of its $2B share repurchase program. The company said the purpose of the program is to reduce its capital. To the extent required, the company may in future use the repurchased shares to satisfy employee share awards.